Revolut Hires JPMorgan to Help Raise $1.5 billion, Sky Says

Revolut Ltd. has hired JPMorgan Chase & Co. to raise $1.5 billion in debt and equity, Sky News reported, without saying where it got the information.

The U.S. investment bank has been tasked with selling $500 million worth of shares and $1 billion of convertible loans for the U.K. bank in the coming months, the report said. The loans could be converted into equity if the company were to receive a U.S. banking license, Sky said on Saturday, adding that Revolut declined to comment.